Productivity Push - Why the Devil is in the Data

Financial Advisory

22 June 2023

Advisory DistributorsBig DataClientCRMFinancial AdvisoryIntegrated systemsInvestment Platform

Expert: Paul McAnulty Director of Data Solutions, Nucleus Facilitator: Brod Whiting, Director, JoyndUp


  1. All the data about the client should be held within the advisers CRM/Back Office - this is the challenge to all


Nucleus have spent a lot of time and effort building up their internal data. Paul went into detail about the 8-9-year journey they had been on to get where they are today, highlighting some of the tools they used. They now have 23 different data sources.

Nucleus are using the awareness they now have from their data lake to be able to look at improving efficiencies, for instance regarding sending out statements and in dealing with transfers.

Nucleus have all this rich data not only about how they interact with advisers but also how end clients interact with them. They, and one presumes other platforms can tell when and how often adviser’s clients are logging on for example. Nucleus realise that this data is not only powerful for themselves but also for the adviser community, there challenge is how would advisers like to receive this data, do they want raw data or would they like Nucleus to analyse the data for them.

The key for adviser firms is that they have all the data they require in the place that they want it, so that they can then make the information available to their clients, rather than the clients logging in to different platforms.

Key takeaways:

  • To be able to value a client you need all their information in one place, the back-office system and then the data around the client activity would then indicate individual client profitability
  • The data about the client belongs to the client and it is up to the adviser to make it available
  • Time recording was not thought to be the answer but perhaps running through all of the processes that happen when dealing with a client and timing that would give a cost to serve